Montero Mining and Exploration Ltd. has received a positive report from Fathom Geophysics from the analysis of geochemical data on the Avispa property. The report entitled “3D footprint Modelling at Avispa” has generated a 3D conceptual target indicating the possible location of porphyry copper molybdenum mineralization at depth. Company geologists collected reverse circulation (RC) drill chip piles from drilling sites believed to have been completed by BHP and Quantum Pacific Exploration Chile on the Avispa property.

Some samples returned anomalous copper (>100 ppm Cu) and molybdenum (> 10 ppm Mo) values as previously reported. Avispa is located 40 km to the west of the Chuquicamata copper porphyry deposit and is situated within the defined north-south trending Palaeocene–Eocene Cu-Mo porphyry belt and 40 km north of BHP's Spence Cu-Mo mine and KGHM/South32's Sierra Gorda Cu-Mo mine. The drilling chip geochemical dataset from an area of close spaced drill holes was analysed by Fathom using proprietary software comparing it to idealised models of mineralized porphyry systems. The results show a significant coincident target modelled under the central part of the area that was processed (Figure 3).

The success of the targeting has encouraged the Company to use the Fathom analysis on other areas of the Avispa property. RC drill hole samples obtained from the rest of the property and lithological samples obtained from the San Salvador River valley provide an additional dataset for analysis by Fathom. Fathom's analysis has been successfully used to identify existing porphyry mineralization systems at depth such those explored by Solgold in Ecuador (Solgold,13 August, 2020).